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GDP

According to preliminary calculations, GDP in the province totaled some 130.1 billion yuan in 2003 (up 10.1 percent), the highest rate of growth seen in the province since 1997. Per capita GDP was 4,984 yuan (up 8.97 percent).

Value-added

In 2003, value-added within the primary industries was some 24.0 billion yuan (up 6.0 percent). Value-added in the secondary industries was 60.8 billion yuan (up 12.2 percent). Value-added in the tertiary industries was 45.3 billion yuan (up by 9.4 percent). This put the respective contributions at: primary 18.4 percent (unchanged from the previous year), secondary 46.7 percent (up from 45.7) and tertiary 34.9 percent (down from 35.9).

Industrial value-added

In 2003, total industrial value-added was some 45.0 billion yuan (up 12.9 percent). Of this, the value-added within state-owned enterprises and non-state-owned enterprises with an annual sales income over 5 million yuan came to 39.0 billion yuan (up 13.02 percent) and these enterprises returned profits of 3.1 billion yuan (up 47.44 percent). Meanwhile the output value of new industrial products was 3.6 billion yuan (up 4.21 percent).

Agricultural output

There were some 2.5 million hectares in grain in 2003. This was a decrease of 129,300 hectares (4.92 percent) on the previous year. However total annual grain output was 7.9 million tons (up 0.85 percent). The average output per mu (1 mu = 1/15 hectare) was the highest ever recorded at 210.54 kilograms.

Public revenues

In 2003, government revenues contributing to GDP were running at 17.6 billion yuan, an increase of 18.18 percent while the general planned annual revenue was 8.7 billion yuan, an increase of 15.67 percent.

Foreign trade

One after another, seventy-one of Gansu?ˉs cities and counties had opened up to the outside world. By 2003, friendly inter-city relations were in place with 13 counterparts located in Japan, the United States, New Zealand, Turkmenistan, Australia, Kazakhstan, Hungary and Russia. Export trade has developed on the strength of the province?ˉs textiles, chemicals, minerals and non-ferrous metals.

In 2003, the combined value of imports and exports was US$1.328 billion, an increase of 51.3 percent over the previous year. Exports had increased 59.9 percent in the year to US$0.878 billion, ranking Gansu with the third fastest growth among all of China?ˉs provinces and autonomous regions. Meanwhile imports had grown 37 percent to US$0.450 billion.

Exports to the most significant destinations by value were: Korea at US$240 million (up 125 percent on the year before), Japan at US$182 million (up 94.7 percent), Hong Kong at US$89 million (up 90.8 percent), the United States at US$62 million (up 84.8 percent) and Russia at US$54 million (up 31.6 percent).

Foreign investment

Gansu has established ties with the World Bank, the UN Food and Agriculture Organization, the World Food Program and the European Economic Community. With loans and other forms of aid from these institutions, the province has developed various small-scale water conservation and hydro-electric schemes and has set up medical and educational projects. The year 2003 saw a decrease in the utilization of foreign capital. While total contractual commitments to foreign direct investment (FDI) reached some US$245 million (up 22 percent), the actual utilization of FDI was US$39 million (down 25.7 percent).

Pillar industries

The pillar industries of Gansu include non-ferrous metals, electricity generation, petrochemicals, oil exploration machinery and building materials.




Water conservation, electrical power, energy, and transportation:
? Qilinsi Hydropower Station on the Bailong River
? Development of the Tuomatan Coal Field in Mazong Mountain
? Gas recovery from coke ovens in the Tianshui Coking Plant
? Jiudianxia Pivotal Water Conservation Work on the Taohe River
? Liujiaxia Hydropower Station on the Yellow River in Lanzhou
? Reconstruction and expansion of the Dunhuang Airport.
Non-ferrous metals, petrochemicals, and building materials:
? A production line with a capacity of 5,000 tons of electrolytic copper
? Dunhuang Vanadine Mining and Dressing Plant
? Luoba Lead-Zinc Mine in southern Gansu
? Aksay County Processing Factory of Asbestos Products.
Machinery, electronics, textiles, and light industry
? The expansion of the production capacity of speed-regulation electrical machinery
? Automobile transmission shaft assembly line and spare-parts production line for imported and home-made cars
? The project with a designed annual capacity of producing 100,000 5HP-type slide compressors
? Development of fire quenching equipment, commercial concrete, crane trucks, and waste-water treatment equipment.
Medicine, food, and agricultural by-products:
? The second-phase of the project in Jinchang with an annual capacity of producing 2,000 tons of glycerine
? Tapping of the natural mineral water with a high content of strontium in Jiuquan
? Artificial cultivation of Chinese caterpillar fungus
? The development of fit-keeping and nourishing drinks
? Construction of urban and tourism facilities including the Liangzhou Tower, the Lanzhou Children?ˉs Hospital, and the Gansu Commodity Trading Tower.


Preferential treatment in taxation
Foreign-funded enterprises engaged in productive operations with an operational period more than ten years shall be exempt from the business income tax for the first two profit-making years, followed by a 50 percent reduction of the said tax from the third through the fifth profit-making year.
Foreign-funded enterprises engaged in agriculture, forestry, and animal husbandry and those established in areas outside Lanzhou proper may continue to enjoy a 15-30 percent reduced tax rate for another ten years after expiration of the business income tax exemption and reduction period, subject to approval.
Export-oriented enterprises whose output value of export products in a year amounts to 70 percent or more of the total output value of all products for the same year shall be entitled to a 50 percent reduction of the business income tax after expiration of tax exemption and reduction as stipulated by the state. Those enterprises which have been accorded the status of technologically advanced enterprises shall enjoy a 50 percent reduction of the business income tax for another three years upon expiration of the said tax exemption and reduction period.
Foreign-funded enterprises established in the Ningwozhuang Hi-Tech Industrial Development Zone which have been identified according to state regulations as hi-tech Sino-foreign joint ventures with an operational period of more than ten years shall be exempt from the business income tax for the first two profit-making years upon approval of the application of these enterprises by the taxation authority. Proper considerations of tax reduction for a certain period may be given to those who have difficulties in paying tax after expiration of the said tax exemption period, subject to approval.
Overseas investors who reinvest in China their share of profits derived from their enterprises for a period of no less than five years shall be entitled to, upon approval, a refund of 40 percent of the income tax already paid on their reinvested portion. In case that the reinvestment is made for the establishment and expansion of export-oriented enterprises or technologically advanced enterprises whose operational period is no less than five years, the investors shall be entitled to a 100 percent refund of the income tax already paid on their reinvested portion.
Foreign investors shall be free to remit abroad the profits derived from their enterprises. No remittance tax shall be levied.
Foreign enterprises established in Lanzhou proper and in the development zone to engage in productive operations and enterprises engaged in the industries particularly encouraged by Gansu Province shall be entitled to a 24 percent reduction of the business income tax. In case that the amount already paid is higher than 76 percent, they may receive a refund of the portion higher than 76 percent from the local institution of finance. Foreign-funded enterprises of knowledge-intensive category, foreign enterprises engaged in productive operations with an investment more than US$10 million, or those in the fields of transportation and energy sources may enjoy a 15 percent reduction of the business income tax. In case that the amount already paid is higher than 85 percent, they shall get a refund of the portion higher than 85 percent from the local institution of finance at the corresponding level.
Foreign-funded enterprises with investment more than US$500,000 and an operational period more than ten years, foreign-funded enterprises engaged in the fields Gansu particularly encourages, or enterprises in the field of the catering industry established in the urban areas and the development zone of Lanzhou shall be entitled to a refund of the 3 percent local income tax already paid from the local institution of finance.
Foreign-funded enterprises shall pay tax for their motor vehicles and license plates and then are entitled to a full amount refund (motor vehicles for transport operations are excluded).
Foreign-funded enterprises are free from food animal slaughter tax.
Preferential treatment in the use of land
1. Foreign-funded enterprises developing barren mountains and wasteland into new development zones and mainly engaging in industrial operations shall be entitled to a 15 percent reduction of the fees for the transfer of the land-use right.
2. Foreign-funded enterprises developing barren mountains, wasteland and water surfaces into agricultural, forestry, and livestock breeding projects may enjoy a 50 percent reduction of the fees for the transfer of the land-use right.
3. Sino-foreign cooperative enterprises engaged in transformation project with the Chinese side?ˉs investment in the form of offering the land-use right at a fixed price may enjoy a 15 percent reduction of the fees for the transfer of the land-use right.
4. Foreign-funded enterprises engaged in projects especially encouraged by Gansu Province or in productive operations in the development zones shall be entitled to a 20 percent reduction of the fees for the transfer for the land-use right or a cession of the land upon approval from the provincial government.
5. Foreign-funded enterprises established on barren mountains and waste riverbanks unsuitable for farming shall be free from the fees for the transfer of the land-use right.
6. Foreign-funded enterprises obtaining the land-use right in the form of land-use right transfer, those engaged in projects which are especially encouraged by Gansu Province, and those established in the development zones shall be free from fees for the right of land use.
7. Foreign-funded enterprises shall be free from the land-use fees during the period of basic facility construction (two years). Those with a operational period of more than ten years and an investment between US$500,000-1 million may enjoy a five-year exemption of the land-use fee, those with an investment between US$1-3 million, a seven-year exemption of the land-use fees, those with an investment between US$3-5 million, a ten-year exemption, and those whose investment mounting to more than US$5 million, a 15-year exemption.
Other preferential treatments and rewards
Foreign-funded enterprises shall be entitled to an inland transport allowance of 0.05 yuan for every U.S dollar they earn in export of their products from the local institution of finance at the corresponding level.
Foreign-funded enterprises belonging to the categories whose investment is encouraged according to state industrial policies may enjoy a one-year reduction of the fees for the electricity-consumption right. The ratio of reduction shall be equal to the ratio of the investment received.
Foreign-funded enterprises shall be entitled to an accelerated depreciation of their fixed assets upon approval.
Compatriots from Hong Kong, Macao, and Taiwan and overseas Chinese who make a lump-sum investment of more than US$100,000 in the province may choose one family of their relatives or friends in rural Gansu to apply for the change of their domicile to urban areas.
Intermediary organizations and individuals who have introduced overseas businessmen to invest in Gansu shall be rewarded.
The board, lodging, and medical costs of foreign personnel in foreign-funded enterprises traveling on official business in Gansu and their family dependants accompanying them shall be handled in the way same to Chinese staff.
Foreign-funded enterprises shall be entitled to the right to decide the mode of management of their enterprises, recruit and dismiss their employees, and fix the price of their products.
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